The new facility will be New Zealand's most advanced printing plant and will produce full-colour newspapers.
General manager Chris Jagusch, says the new press was a huge vote of confidence in the newspaper and the Christchurch and Canterbury economy. The proposal may require the sale of The Press's headquarters in Cathedral Square.
"It will enable us to push production boundaries, raise printing standards and give readers and advertisers an improved newspaper."
Says Jagusch: "We will consider selling our Cathedral Square site, and use the sale proceeds to part-fund the project. It is intended that editorial, advertising, newspaper sales and administration staff will remain in the central business district, quite possibly in the current building as part of a lease-back arrangement."
The project was approved this week by the board of Fairfax Media, the owner of The Press.
Fairfax Media's New Zealand chief executive officer, Joan Withers, says the investment would underpin The Press's position as the South Island's premier newspaper.
